Why is Blue Jet Health falling/rising?

As of 23-Sep, Blue Jet Healthcare Ltd's stock price is rising, currently at Rs 681.20, reflecting an increase of Rs 12.6 or 1.88%. Today's performance indicates a trend reversal as the stock has gained after six consecutive days of decline, outperforming its sector by 2.3%. The stock reached an intraday high of Rs 685, although it is still trading below its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. Despite a recent drop in investor participation, with delivery volume falling by 55.71% against the 5-day average, the company's strong long-term fundamentals, including a robust return on equity of 26.94% and consistent positive quarterly results, contribute positively to its recent price movement.
In the broader market context, Blue Jet Healthcare's short-term performance has been notably better than the benchmark, as it has generated a return of 29.79% over the past year, while the BSE500 index has seen a decline of 4.69%. This significant outperformance highlights the company's resilience in a challenging market environment. Furthermore, the company's healthy growth metrics, such as a 4.2% increase in net sales and a substantial growth in profit after tax, reinforce investor confidence, suggesting that the stock's recent rise may be driven by both its strong fundamentals and a recovery from prior declines.